India’s financial regulator has reached a deal with the former owners of the Gold Coast Sheraton Mirage hotel to get its hands on tens of millions of dollars that were allegedly the proceeds of one of the world’s biggest Ponzi schemes.
But the proposed deal, revealed in the Federal Court in Brisbane on Tuesday, freezes out 37,000 Indians seeking their own justice in the Australian courts after being ripped off in illegal land investment schemes in India allegedly run by the Pearls group and associated companies.